Students studying for their real estate exam must know the two key real estate terms discussed in this video: ASSIGNMENT OF LEASE and SUBLEASING.

Key real estate terms:

(1) Assignment of Lease – Lessee (tenant) transfers all rights and priviledges held under the lease agreement to the new lessee.
(2) Subleasing (sublet) – Lessee retains original lease but rents all or a portion of the premises to a sublessee (subtenant)
(3) Lessor (landlord) – The owner of a rental property that has been leased to another. Holder has leasehold interests in the property.
(4) Lessee (tenant) – The tenant who is party to a lease agreement with the lessor
(5) Assignor – The person who assigns their interest in a contract to another called the assignee
(6) Assignee – The person who is receiving the interest in a contract of another called the assignor

Best of luck with your studies…

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P.S. Nothing in this video shall be construed as legal or financial advice and is for INFORMATIONAL purposes only! Please consult with a competent attorney, financial advisor, and your broker before implementing anything you’ve learned from this video. Likewise, the issues discussed herein may not be applicable in your state or local jurisdiction.

Paul Vojchehoske

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